United Kingdom & Europe World Literacy Foundation United Kingdom & Europe World Literacy Foundation TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 April 2024 RegSstered office: Sulte 225, 46 E￿r$holt Street London. Engl•nd, P4W11DA Charity Registration No: 1154264 Company number: 8475669 LouisAttountingSeThices Prepar&1 by Edu￿d0 Gonzalez sed by Loui5 Villanueva United Kingdom & Europe World Literacy Foundation Statement of Financlal Activities For the year ended 30th AprS12024 3010412024 3010412023 Turnover Trust and Foundatlon 66.014.32 74.063.97 Onllne General UK StAmmit 2023 6,624.82 18,550.25 61,546.74 66.585.20 5,632.CQ 207,827.91 Totsl turnw 91,189.39 Expendlture AdmlnlstratlonlFees Bank charges ResearchlEvaluatlon Fundralslng Direct Prolect C05tS Prolert Development Cost Salary on Costs Accountln8 Fees Wageslsalaries 21.103.35 286.85 6.171.34 265.08 10,931.99 14,660.64 166,667.04 2,707.48 L540.98 140.(K+ 21,128.36 1.557.47 1,2thJ.(J) 45,416.03 41.344.fA) 244,289.15 Total expenses Result for the Flnan¢lal Year 45,77336 36,46124 Louls Villanueva / Rewstered Tax W I PublKAccouniam Profeslonal member re815trntlon 21Cfj66 Instr(vte of Publl£Actountaftts Tèx 4ent Resistratlon 25208715 0412 0684271 accountin8@thevlllayoup.comA VILLA & CO- Lwls Accountingservltrs Offlce.. St Kllda Rd Towers. l Queens Rd Melbwrre WIC3￿lAu￿1a Postal addre5s.- PO Box 1061, Mouniain Gate.Vic 3156 These ftnénci* Statem￿ must be We￿ STr coTrjunctFty) withihe attach￿AcCountaTh￿S cthnp4aiion Rewrtand Nctts whith fomi W0fthe5efin￿dal Aateffl￿ts. United Kinidom & Europe World Literacy Foundation Balance Sheet Detailed Balan(e Sheet as at Joth April 2024 XII0412024 3010412023 Equity Reta￿￿￿ Eamrys 67.Eé5.81 21.89145 Total Effjmty 67,665.81 IL892.45 Rewesented by. CurTent Assets C•sh A95ets Cash rf 8bnk. Cwrent Ac(¢xm Cash at Bank- Other FuThls 67.665.81 3.949.20 67.665 I.￿.20 Tot& Cwrent Assets 67.665.81 J,949.20 17,943.25 Total Assets 67.665AI 2L892.45 Current ilabllttbes VAT Payabbe Jrt TLYM Loan Ttxd curremt liablities Total Liabmities Net Assets 2L892.45 ofThe Chaiity 67.665AI 2U92AS Totd F￿Mts as otat xIIW2024 67,665AI IL892.45 Registered Charity number 1154264 United Kingdom & Europe World Literacy Foundation Independent examiner< report I report on the accounts of United Kingdom & Europe World Literacy Foundation for the period ended April 30, 2024. This Report is made solely to the trustees as a body, in accordance with the charities Act 2011. My examination has been undertaken so that I might state to the trustee those matters l am required to state to them in an independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustee as a body, for my examination, for this report, or forthe opinions I have formed. My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a compari50n of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair viev/', and the report is limited to those matters set out in the statement below. Independent examinerfs statement In connection with my examination, no matter has come to my attention, 111 which gives me reasonable cause to believe that in, any material ￿SpeCt, the requirements: to keep accounting records in accordance with section 130 of the Charities Act, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the charities Act have not been met; or {2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. tA)uis Villanueva l Registcred Tax Agent I Public Ace4)untant Profcssional member registration 210666 Institute of Public Accountants 0412 068 4271actyoiintin471(I'thevill .com.au VII..I.A & CO - Louis AciouniinfF Services Office: St Kilda Rd Towers, Suile 717 1 l Queens Rd Melknwne Vic 3(M)41Australia Postal address: PO Box 1061, MouTrtain Gate, Vic 3156 20 May 2024 Registered Charity number 1154264 REPORT OF THE TRUSTEES For the year ended 30 Aprll 2024 OUR OBJEcllvES Principal goals and activities of United Kingdom & Europe World Literacy Foundation We are dedicated to transforming the lives of the world's most disadvantaged children by focusing on literacy and education. We implement sustainable programs which aim to raise literacy standards and give individuals every possible chance to receive a quality education; promoting and teaching literacy in early childhood years is not only key to success at school but also later in life. STRucfuRE. GOVERNANCE AND MANAGEMENT No Changes were made during the reporting period. We believe we build trust by acting ethically, with integrity and fairness, to do the right thing. Our leadership sets the tone from the top and this mindset 15 reinforced by our culture and values: to act with integrity, make a difference, care, work together and reimagine the possible. Achievements In 2023-24 We have distributed an estimated 15,000 children's books annually since the inception of UK Reads. Expanded tailored literary support ser4ices to engage more young people across Key Stage 3 and Key Stage 4. We reached over 100,000 people with educational messages via media, social media, online and in-person public speaking engagements. Provisions established to offer support to 10,000 parents and caregivers annually through literacy advocaoi sessions, empowering families and building community awareness. We provided 200 hours of volunteerism both in person and digitallv. Further details are outlined in the Annual Report. CONSTITUTION No Changes were made during the reporting period. United Kingdom & Europe World Literacy Foundation is a Charity (registered number 1154264). Charitable status was granted on 18 October 2013. The Charity is a company RegiStff￿ Charity numbff 1154264 RISK MANAGEMENT The Trustees have an ongoing policy of reviewing, identifying. and mitigating the operational, financial, and strategic risks to which the charity is exposed in the UK and around the world. A risk register is maintained, which identifies all significant risks and proposes actions to be taken to reduce the charity's exposure as appropriate. The management team reviews the risk register regularly during the year, which is formally presented to the Trustees on an annual basis. Risks are appraised through a combination of likelihood of occurrence and potential impact, with actions agreed that reduce residual risk to an acceptable level. BOARD OF TRUSTEES The appointment of Trustee5 is governed by the Trust Deed. The Board of Trustees is required to monitor the affair5 and the general business of the Charity and meets as required. The following Trustees held office during the year to 30 of April 2024 and up to date of this report: Darryn Keneally, Trustee Chair, Big Brothers Big Sisters. {Appointed 01 January 2019) Dr Donald Green, Deputy Chair, Point Park University (Appointed 05 April 2013 and re- elected 05 May 20221 Mr Andrew Kay, Trustee, Secretary/Treasurer (Appointed 01 September 2013 and Re- elected on 05 May 2021} Dr Tony Cree, Trustee OAM (appointed 11 February 2020) Chair-world Literacy Council, Educated at Oxford University, Dr. Cree has held and continues to hold a range of senior academic positions Ms Julia Paterson, Trustee (Appointed 11 February 2020) Co founder of a global social enterprise called GreatWrap.co Ms Samantha Slda, Trustee (Appointed 11 April 2022} Co-founder and Director of the OOH UK media company Limited Space Note: Andrew Kay, CEO & Founder of World Literacy Foundation International serves as a honorary role to United Kingdom & Europe World Literacy Foundation. RESERVES POLICY The Trustees have approved a reseples policy to maintain unrestricted reserves at a level sufficient to support the core activities of the organisation for a minimum of 3 months. This level of reserves is deerned prudent by the Trustees, to ensure that the work and services of the organisation can be planned with some certainty. This policy is reviewed by the Trustees Registered Charity number 1154264 on an annual basis. At year end the organisation is still working tovrfards meeting this minimum threshold. The Trustees will continue to monitor the reserves position closely over the coming year. The General Resep4e Fund of £67665.81 represents the £29525.75 is unrestritted resenies of the charity arising from past operating results. The Restricted Reserves of £38140.06 represent the unspent balances remaining from grants which are allocated for speclfic projects in 2024125. Special note: The reduced income in 2023-24 was attributed to a number of fartors. l. A fal in general charitable giving over the past 12 months. 2. The income from Trust/Foundations were lower due to increased demand from the wider sector. 3. And the end of a 3 year corporate partnership with ￿EP PA. In 2024, we secured a 3 year grant with Mercer Foundation for £150,000 for a project in East London. TRUSTEES, RESPONSIBIUTIES The Trustees are required to prepare financial statements for each financial period which give true and fair view of the state of the affairs of the Charity and of the surplus or deficit for that period. As the United Kingdom & Europe World Literacy continues to develop and grow, the Trustee5 have agreed to adopt the UK Statement of Recommended Practice - Accounting by Charities in future accounting years. These accounts for the period ending 30 April 2024 have been prepared in accordance with special provisions relating to small companies within Part 15 of the Companies Act 2006. In preparing the financial statements, the Trustees are ￿qUired to: state suitable accounting policies and then apply them consistently, Observe the methods and principles of the Statement of Recommended Practice for accounting and reporting for charities, make judgments and estimates that are reasonable and prudent, state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustee5 are responsible for keeping proper accountin8 records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, The Charity {accounts and Reports) Regulations 2008, the provisions of the goveming document and SORP IFRSIO). They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and irregularities. By order of the Board Andrew Glenn Kay Trustee 20 May 2024 Registered Charity number 1154264 United Kingdom & Europe World Literacy Foundation Annual Statements give true and fair view of financlal performance and position of the company limited by guarantee. The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024. The members have not required the companyto obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2iJ)6. The directors acknowledge their responsibilities for: lal ensuring that the company keeps accounting ￿cOrdS which compty with Sections 386 and 387 of the Companies Act 2006 and (bl preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of tts profit or loss for each financial year in accordance with the requirements of Sertions 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The flnanclal statements have been prePa￿d In accordance with the micro-entity provisions. The financial statements were approved by the Trustees on 29 May 2024 and were signed on its behalf by: Andrew Kay Dirertornrustee 30 May 2024 LtyJt5Wlhnwvkl Rel￿fered Tax AytDtI Publlc AccountsDt PrpftSsioMI rr*mber wlstr•tk)A 210666 Instituit of PubllcAc¢vuntants 041Z 0684271x£ouTrtlniiVthev1l￿vffjup.corn.aU VILLA & CO- LoulsAccouDtiw SeNices Offke.. StKihla Rd Tower5. 7171 l (knen5 Rd Melboumewc 3LK)4IAuStralla Postal addrw.. PO Box 1061, Mwntaln Gate, VK3156 Registered Charity number 1154264 United Kingdom & Europe World Literacy Foundation NOTES TO THE FINANCIAL sfATEMENTS For the year ended 30 Aprll 2024 I. ACCOUNTING POLICIES a. BASIS OF PREPARATION OF FINANaAL sfATEMENTS The financial ststements have been prepared in accordance with the charities SORP (FRS 102)- Accounting and Reporting by charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK Republic of Ireland IFRS 102) (effective 01 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006 Comparative figures During the current year, the company has made some activities that have been allocated to expenditures in comparison with previous years where there were no activities. b. TURNOVER Turnover represents income from Trust/Foundations grants and other organisations to promote early childhood literacy and education. c. INCOMING RESOURCES Income is included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources and the resources have been received. Grants and donations are included in the SOFA when received. d. EXPENDITURE AND LIABIUTIES Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. e. ACCOUNTING PERIOD The Financial Statements cover 12 months from 01 May 2023 to 30 April 2024. Regtstered Charity number 1154264 2. COMPANY STATUS United Kingdom & Europe World Literacy Foundation is a registered charity and a company limited by guarantee and consequently does not have share capital. 3. CAPITAL COMMITMENTS The Trustees are not aware of any capital commitments. 4. CONTINGENT LIABIUTIES The Trustees are not aware of any contingent liabilities. io RegI￿er￿ Charity numtw 1154264